Fairhaven Wealth Management LLC Has $2.74 Million Position in Public Storage (NYSE:PSA)

Fairhaven Wealth Management LLC raised its stake in shares of Public Storage (NYSE:PSA) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,140 shares of the real estate investment trust’s stock after acquiring an additional 71 shares during the quarter. Public Storage makes up 0.9% of Fairhaven Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Fairhaven Wealth Management LLC’s holdings in Public Storage were worth $2,737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after purchasing an additional 2,566 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 1,783 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Public Storage by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after acquiring an additional 5,793 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Public Storage by 114.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after acquiring an additional 48,803 shares in the last quarter. Finally, Swedbank AB grew its position in Public Storage by 31.9% during the 3rd quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after acquiring an additional 37,285 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Public Storage Price Performance

PSA opened at $302.33 on Tuesday. The company has a fifty day moving average price of $297.86 and a two-hundred day moving average price of $325.51. The firm has a market capitalization of $52.94 billion, a PE ratio of 31.39, a P/E/G ratio of 4.91 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $4.21 EPS for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02). Public Storage had a return on equity of 34.07% and a net margin of 40.54%. As a group, analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on PSA shares. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.